Brooklyn, NY -- (SBWIRE) -- 02/02/2018 -- According to the report, the global oil and gas software market is primarily driven by the high demand for capital management, resource management, and inventory management in oil and gas companies. The demand for oil and gas software is also high as oil and gas companies involve complex operations which software can manage effectively as these softwares are sophisticated and efficient. Therefore, an increasing number of oil and gas companies are leveraging this software in order to handle their capital projects efficiently.

One of the key advantages of using oil and gas software is that it can accurately keep a tab on the progress of projects. Oil and gas software enables companies to effectively utilize the resources and also help the companies to realize what are the risks involved and bring about the necessary compliance. Moreover, the software can also help with analytics and reports.

The demand for oil and gas software from oil and gas companies in order to optimize the resources, assess risks, and plan the resources will definitely ensure a healthy growth of this market even in the future. These software allow collaborations and also help in complying with the regulations. Therefore, it is a valuable asset to oil and gas companies. The report not only discusses the various factors boosting the growth of the oil and gas software market, but also gives an equal attention to enlisting and discussing the various factors which are currently affecting the market or are expected to hamper the growth of the market in the future. One of the key factors restricting the growth of the global oil and gas after market is the increasing investment in alternative energy such as nuclear, wind, title, solar, and water. In addition to this, the gap between demand and supply of oil and gas is also widening, which is acting as a challenge for the market.

On the basis of geography the global oil and gas software market is segmented into North America, Asia Pacific, Europe, and the Rest of the World. Of these, it is expected that North America will lead within the oil and gas software market on account of the US driving this market in the region with its massive shale-oil reserves. Second in terms of leading within the oil and gas software market is Europe. Scandinavia and the UK are at the forefront of driving the European oil and gas software market as these regions have huge reserves of oil and gas in the North Sea and Scandinavian area. Growing investments, presence of complex geographical structures, pipeline network, and increasing production activities are some of the other factors driving the European oil and gas software market.

With booming IT industry in the southeast of Asia and China, and rapidly growing urbanization, the Asia Pacific oil and gas software market will also witness a healthy growth in the forecast period. Another important factor which is working in favor of the Asia Pacific oil and gas software market is the well connectedness of Southeast Asian countries. Advancements in economy, availability of the necessary infrastructure, and burgeoning population in southeast of Asia are other factors which will ensure a promising growth of the oil and gas software market in Asia Pacific.

The report profiles prominent players operating within the oil and gas software market for the purpose of study. The business and financial overview of these companies are studied, their recent developments, and information on strategic geographical expansion are some of the other important aspects that are discussed in the report. Names of the companies studied in the report are: Ogsys, Creative Energies, FieldCap, Aclaro, NetDispatcher, Snappii Apps, Frontline Data Solutions, Wellsite Report, Total Stream Systems, and Petro Suite.

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